From Augustus' conquest until Diocletian's monetary reforms, Egypt maintained a separate currency. Hoard evidence indicates that when crossing into Egypt all imperial coinage had to be exchanged for Egyptian and when leaving all Egyptian coinage had to be exchanged for imperial coinage. Coins are dated according to the Egyptian year which began on 29 August, or 30 August following a leap year. The Egyptian tetradrachm was officially valued at one denarius.

On 30 October 130 A.D., Hadrian founded the city of Antinoopolis on the very bank of the Nile river where Antinous drowned. It was the capital of a new nome, Antinoopolites. Perhaps the date on this coin is year four of an era beginning with the founding of Antinoopolis.

During Hadrian's reign Italian agriculture declined as imports from Egypt and NorthAfrica depressed wheat prices, making it unprofitable to farm and forcing many farmers off the land. In Rome, bread was distributed free to the poor and Roman bakeries produced dozens of bread varieties.